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[BUSINESS] · United States · 38 sources

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Federal Reserve officials split on rate hikes as inflation pressure persists

The Federal Open Market Committee left the federal‑funds target range unchanged at 3.5 %‑3.75 % in its July 2026 meeting, but three members – Minneapolis President Neel Kashkari, Cleveland President Beth Hammack and Dallas President Lorie Logan – voted for a 0.25 percentage‑point increase. Kashkari said, “now is the time to start slowly moving rates up,” arguing that current policy is not restrictive enough. Fed Chair Kevin Warsh warned the central bank has “no tolerance for persistently elevated inflation” and signaled a possible September hike if inflation remains high. San Francisco President Mary Daly supported holding rates steady, noting that supply‑driven shocks are fading. Dallas President John Williams added the Fed will act if inflation does not ease. Fed Governor Lisa Cook cautioned that the margin to keep rates steady is shrinking and that a hike could be needed. Market pricing of a September hike rose to roughly 60 % according to CME FedWatch data, reflecting growing investor concern as oil prices stay above $100 a barrel.

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2028 inflation target · Anna Paulson · Federal Open Market Committee · Federal Reserve · Jeff Schmid · John Williams · Kevin Warsh · Lisa Cook · Mary Daly · Neel Kashkari · United States

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